TECL vs. SOXL

Last updated Jun 24, 2026

TECL (Direxion Daily Technology Bull 3X Shares) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds from Direxion - TECL tracks the Technology Select Sector Index (300%) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past 10 years, TECL returned 52.52%/yr vs 64.56%/yr for SOXL. Their correlation of 0.85 suggests significant overlap in exposure. TECL charges 0.91%/yr vs 0.75%/yr for SOXL.

Performance

TECL vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Technology Bull 3X Shares (TECL) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TECL achieves a 79.13% return, which is significantly lower than SOXL's 450.61% return. Over the past 10 years, TECL has underperformed SOXL with an annualized return of 52.52%, while SOXL has yielded a comparatively higher 64.56% annualized return.

TECL

• 1D: -12.35%
• 1M: 1.15%
• YTD: 79.13%
• 6M: 71.47%
• 1Y: 169.88%
• 3Y*: 65.84%
• 5Y*: 33.78%
• 10Y*: 52.52%

SOXL

• 1D: -23.06%
• 1M: 21.44%
• YTD: 450.61%
• 6M: 429.57%
• 1Y: 976.09%
• 3Y*: 120.84%
• 5Y*: 42.16%
• 10Y*: 64.56%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TECL vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TECL Direxion Daily Technology Bull 3X Shares	79.13%	38.60%	36.15%	203.14%	-74.32%	112.80%	69.46%	185.58%	-24.03%	124.82%
SOXL Direxion Daily Semiconductor Bull 3X ETF	450.61%	54.91%	-12.31%	226.98%	-85.66%	118.84%	70.04%	231.83%	-39.07%	141.71%

Correlation

The correlation between TECL and SOXL is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010	0.85

The correlation between TECL and SOXL has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.

TECL vs. SOXL - Sectors Allocation Comparison

Sectors	TECL	SOXL
Technology	22.4%	100.0%
Energy	0.0%	-
Industrials	0.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

TECL vs. SOXL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TECL

TECL Risk / Return Rank: 65
TECL Sharpe Ratio Rank: 80
TECL Sortino Ratio Rank: 55
TECL Omega Ratio Rank: 58
TECL Calmar Ratio Rank: 74
TECL Martin Ratio Rank: 59

SOXL

SOXL Risk / Return Rank: 96
SOXL Sharpe Ratio Rank: 99
SOXL Sortino Ratio Rank: 90
SOXL Omega Ratio Rank: 92
SOXL Calmar Ratio Rank: 99
SOXL Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TECL vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bull 3X Shares (TECL) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	TECL	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	2.44	8.45	-6.00
Sortino ratio: Return per unit of downside risk	2.56	4.03	-1.48
Omega ratio: Gain probability vs. loss probability	1.34	1.58	-0.24
Calmar ratio: Return relative to maximum drawdown	3.67	22.69	-19.02
Martin ratio: Return relative to average drawdown	10.12	72.83	-62.71

TECL vs. SOXL - Sharpe Ratio Comparison

The current TECL Sharpe Ratio is 2.44, which is lower than the SOXL Sharpe Ratio of 8.45. The chart below compares the historical Sharpe Ratios of TECL and SOXL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TECL vs. SOXL - Drawdown Comparison

The maximum TECL drawdown since its inception was -77.96%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for TECL and SOXL.

Drawdown Indicators

	TECL	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-77.96%	-90.46%	+12.50%
Max Drawdown (1Y) Largest decline over 1 year	-46.58%	-43.47%	-3.11%
Max Drawdown (3Y) Largest decline over 3 years	-66.58%	-87.88%	+21.30%
Max Drawdown (5Y) Largest decline over 5 years	-77.96%	-90.46%	+12.50%
Max Drawdown (10Y) Largest decline over 10 years	-77.96%	-90.46%	+12.50%
Current Drawdown Current decline from peak	-23.07%	-23.06%	-0.01%
Average Drawdown Average peak-to-trough decline	-18.38%	-34.95%	+16.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.85%	13.52%	+3.33%

Volatility

TECL vs. SOXL - Volatility Comparison

The current volatility for Direxion Daily Technology Bull 3X Shares (TECL) is 38.27%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 68.39%. This indicates that TECL experiences smaller price fluctuations and is considered to be less risky than SOXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TECL	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	38.27%	68.39%	-30.12%
Volatility (6M) Calculated over the trailing 6-month period	59.36%	99.84%	-40.48%
Volatility (1Y) Calculated over the trailing 1-year period	70.05%	116.79%	-46.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.49%	110.35%	-34.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.01%	100.62%	-27.61%

TECL vs. SOXL - Expense Ratio Comparison

TECL has a 0.91% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

TECL vs. SOXL - Dividend Comparison

TECL's dividend yield for the trailing twelve months is around 3.97%, more than SOXL's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
SOXL Direxion Daily Semiconductor Bull 3X ETF	0.03%	0.34%	1.18%	0.51%	1.07%	0.04%	0.05%	0.38%	1.30%	0.09%	4.84%
TECL Direxion Daily Technology Bull 3X Shares	3.97%	7.19%	0.29%	0.28%	0.22%	0.32%	0.52%	0.25%	0.47%	0.10%	0.00%

Frequently Asked Questions

Can I hold both TECL and SOXL in my portfolio?

TECL and SOXL have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TECL or SOXL?

SOXL has higher volatility (68.39%) compared to TECL (38.27%). In terms of maximum drawdown, TECL dropped -77.96% vs SOXL's -90.46%.

Which ETF is better, TECL or SOXL?

On 10-year performance, SOXL leads with 64.56% vs 52.52% for TECL. On fees, SOXL is cheaper at 0.75% per year. On volatility, TECL has been the lower-risk option at 38.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TECL or SOXL?

Over the 10-year period, SOXL has performed better with a 64.56% return vs 52.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TECL or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 0.91% for TECL.

Which ETF pays a higher dividend yield, TECL or SOXL?

TECL has the higher dividend yield at 3.97%, compared with 0.03% for SOXL.

What is the main difference between TECL and SOXL?

TECL tracks Technology Select Sector Index (300%), while SOXL tracks ICE Semiconductor Index. Their fees differ too: 0.91% for TECL and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (8.45 vs 2.44), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.